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If You Were a Lender, You Would Be a Fool to Loan Mod or SS!

Home Forums General EHTrust/EHT Topics and Creative Real Estate Financing If You Were a Lender, You Would Be a Fool to Loan Mod or SS!

This topic contains 5 replies, has 0 voices, and was last updated by Avatar of dave salcido dave salcido 9 years, 9 months ago.

Viewing 7 posts - 1 through 7 (of 7 total)
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  • #6081
    Avatar of dave salcido
    dave salcido
    Member

    http://www.thinkbigworksmall.com/mypage/player/tbws/23088/

    See how banks make a killing with some simple math by NOT doing a loan mod or a short sale. No, foreclosure is the only option for these bad boys. And oh, what is YOUR congressman up to these days?

    Thank goodness I know what to do about all of this with my beautiful Equity Holding Trust!

    #31307
    Avatar of gshepherd
    gshepherd
    Member
    #31308
    Avatar of areyes
    areyes
    Member

    @Dave Salcido wrote:

    http://www.thinkbigworksmall.com/mypage/player/tbws/23088/

    See how banks make a killing with some simple math by NOT doing a loan mod or a short sale. No, foreclosure is the only option for these bad boys. And oh, what is YOUR congressman up to these days?

    Thank goodness I know what to do about all of this with my beautiful Equity Holding Trust!

    WTFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFF

    $101k profit plus they get a $75k promissory note/judgment lien from homeowner.

    So that’s why 4% – 6% of loan mods are getting approved?

    #31309
    Avatar of homesavers
    NULL
    Member

    And they do not hold that judgment lien in house. They sell it and get X Cash for it. They are boosting the balance sheet without regard for the homeowner. That is why we need the Government to help us. :oops: No sorry they just throw more money at them. These are the new “exotic” loans. You are just a number. Forget about getting a loan modification.

    #31310

    @homesavers wrote:

    That is why we need the Government to help us.

    Are you kidding? Who the hell do you think got us in this mess to begin with? We can solve this ourselves by eliminating all those damn mortgages. Leave the Gubment out of it!

    #31311
    Avatar of mtnwizard49
    mtnwizard49
    Member

    Your schizophrenia has really taken hold. I see that you posted that we need the government to help us. Next post: we don’t need the government. I think you need to think more and post less.

    #31312
    Avatar of homesavers
    NULL
    Member

    @homesavers wrote:

    …That is why we need the Government to help us. :oops: No sorry they just throw more money at them. …

    This is what I said. We “need” to have the Government help us but they do not do not because they just throw more money at the banks instead of letting them go out of business.

    Not schizophrenia just poor writing on my part. Scott made a good a point and I was just agreeing with him. I agree think more and post less.

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